Bloomberg report: “Why the Lira’s in Trouble…

Thought the lira was due a breather after last year’s eye-watering losses? Think again. Turkey’s political quagmire has been exacerbated by central bank inaction and higher-than-expected inflation to make the lira the worst-performing currency

Rating agency Standard & Poor’s said on Jan. 11 that Turkey faces a serious foreign exchange rate risk after the lira currency hit a series of record lows, according to Turkey’s Bloomberg HT television station

Turkey’s embattled lira took a new pounding on Jan. 11 on foreign exchange markets as emergency measures announced by the Central Bank failed to impress markets